SunGard demonstrates SwiftNet real-time cash reporting at Sibos
11 October 2004 | 946 views | 0
Source: SunGard eProcess Intelligence
SunGard eProcess Intelligence, an operating unit of SunGard (NYSE:SDS), will partner with SWIFT for the second consecutive year to demonstrate interactive SWIFTNet Ready solutions at Sibos.
SunGard eProcess Intelligence will participate in interactive demonstrations of the real-time SWIFTNet Nostro Account Information and SWIFTNet Funds solutions using its customer service solution, intelliTRAN CS. The demonstrations will happen in real-time via SWIFTNet.
For the real-time cash reporting demonstration, SunGard will play the role of a bank account Servicing Institution and SWIFT will play the role of a Service User. SunGard will receive Query messages from SWIFT and generate Response messages in real-time to SWIFT. Visitors can see the Query initiated at the SWIFT stand and see the receipt and Response of that query at the SunGard stand.
SunGard eProcess Intelligence's intelliTRAN CS solution has been awarded the SWIFTNet Ready Nostro Account Information label for the third consecutive year. The solution uses SWIFT XML-based standards to help service providers to improve their service by offering access to real-time information in a secure, reliable and standardized way. Users are able to improve their management of risk and liquidity by virtue of their access to real-time information on their nostro accounts and cash transactions.
New this year, SunGard will also participate in an Investment Funds demonstration over SWIFTNet. SWIFT will play the role of a distributor and SunGard will act as a transfer agent to automate a typical investment funds order flow. Price reports, subscription orders, and order status and confirmation messages are exchanged in real-time over SWIFTNet and are executed by INVEST ONE, SunGard's investment accounting and reporting solution. Visitors can see these messages at both SWIFT's stand and SunGard stand (H159), demonstrating the real-time automation of a funds transfer that is today a highly manual process and subject to exception.
Joel Ludvigsen, director of partner solutions at SWIFT, commented, "We've invited SunGard eProcess Intelligence to participate in our innovative demonstrations this year because of its proactive involvement in these SWIFT initiatives. The availability of partner solutions supporting SWIFT's XML standards and connectivity to SWIFTNet is key to ensuring take-up of SWIFT solutions, such as Real-time Nostro Account Information and Investment Funds solutions and ultimately their value to the industry."
Colin Day, director of product strategy at SunGard eProcess Intelligence, commented, "We've been working closely with SWIFT and the Real-time Nostro Account Information Steering Group to help define industry standards for cash reporting over SWIFTNet and we're pleased to have garnered the SWIFTNet Ready accreditation again this year. This year, SunGard will participate in SWIFT's latest solution on SWIFTNet, for Exceptions and Investigations, underlining our commitment to providing the industry with solutions that help reduce risk and costs."
The interactive demos can be seen at SWIFT's stand and at SunGard’s stand, H159, at Sibos.